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UKRGASBANK to finance the construction of one of Ukraine’s largest wind farms

Ukrgasbank began financing the construction of the Novotroitsk wind farm (NWF) with capacity of 70 MW, which is carried out by "Vindkraft Tavria" in Kherson region. After the project is completed, it will become one of the three largest and most powerful wind power stations in Ukraine.

The project provides for the construction and commissioning of power plant, which will generate energy by using wind and subsequently will supply electricity to Ukraine’s grid. Completion of construction is scheduled by the end of 2017.

 «The development of alternative energy sources is a very important step towards energy independence of Ukraine. With this in mind, Ukrgasbank, as leading eco bank, provides financial support to businesses engaged in this kind of projects. The implementation of such a large-scale project, which involves experienced international experts in energy and development of wind farms, is a substantial contribution to either regional, or national Ukraine's economy", - said Rodion Morozov,  Head of Ecological Projects Department of Ukrgasbank.

Generally “Vindcraft goup” of companies (“Vindcraft Ukraine” and “Vindcraft Tavria”) plans to build two wind farms with capacity of 140 MW in Kherson region, namely in Novotroitsk and Overyansk. The total value of the investments in the project is estimated as EUR 220 million, which will be mutually financed by Ukrgasbank, “Vindcraft Ukraine”, “Vindcraft Tavria” and international finance organizations. The predicted annual value of electricity production in Novotroitsk and Overyansk wind farms is estimated at 470 GW a year.

“Vindcraft Ukraine” develops and invests in wind power projects in Ukraine. Since 2012 it owns and operates wind farms with capacity of 30 MW in the South of Ukraine in Kherson region, namely such wind farms as: Novorosiysk wind farm, Stavky wind farm and Berehova wind farm. The founders of the company are Sweden’s citizens Carl Sturen, Fredrik Svinhufvud, Mats Lundin and Johan Boden, who have an excellent reputation and broad experience in doing business in Ukraine (for example, Carl Sturen and Johan Boden are the cofounders of well-known company for the production of food products "Chumak") and the development of wind energy.